Temasek Holdings Private Ltd Purchases 334,647 Shares of PDD Holdings Inc. Sponsored ADR $PDD

Temasek Holdings Private Ltd boosted its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD – Free Report) by 7.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,682,894 shares of the company’s stock after acquiring an additional 334,647 shares during the quarter. PDD accounts for approximately 1.7% of Temasek Holdings Private Ltd’s portfolio, making the stock its 14th largest holding. Temasek Holdings Private Ltd owned about 0.34% of PDD worth $530,993,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in PDD. Focus Partners Wealth increased its stake in PDD by 352.8% in the first quarter. Focus Partners Wealth now owns 9,939 shares of the company’s stock valued at $1,176,000 after acquiring an additional 7,744 shares during the last quarter. Intech Investment Management LLC grew its stake in shares of PDD by 2.7% during the first quarter. Intech Investment Management LLC now owns 14,890 shares of the company’s stock valued at $1,762,000 after buying an additional 395 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of PDD by 62.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,662 shares of the company’s stock valued at $174,000 after buying an additional 637 shares during the last quarter. Cerity Partners LLC grew its stake in shares of PDD by 2.0% during the second quarter. Cerity Partners LLC now owns 19,696 shares of the company’s stock valued at $2,061,000 after buying an additional 382 shares during the last quarter. Finally, CIBC Asset Management Inc grew its stake in shares of PDD by 0.3% during the second quarter. CIBC Asset Management Inc now owns 142,498 shares of the company’s stock valued at $14,914,000 after buying an additional 369 shares during the last quarter. Institutional investors own 39.83% of the company’s stock.

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PDD Trading Up 2.4%

PDD stock opened at $83.55 on Tuesday. The firm has a 50-day moving average of $94.98 and a 200-day moving average of $103.11. The firm has a market cap of $118.93 billion, a P/E ratio of 9.02, a P/E/G ratio of 0.85 and a beta of -0.01. PDD Holdings Inc. Sponsored ADR has a 1-year low of $78.87 and a 1-year high of $139.41.

PDD (NASDAQ:PDD – Get Free Report) last posted its earnings results on Wednesday, May 27th. The company reported $1.38 earnings per share for the quarter, missing analysts’ consensus estimates of $2.40 by ($1.02). The firm had revenue of $15.41 billion for the quarter, compared to analysts’ expectations of $15.92 billion. PDD had a return on equity of 24.32% and a net margin of 21.86%.The business’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.57 earnings per share. Research analysts forecast that PDD Holdings Inc. Sponsored ADR will post 9.92 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. BNP Paribas Exane assumed coverage on PDD in a research note on Monday. They set an “underperform” rating and a $89.00 price objective on the stock. Nomura cut PDD from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 28th. Sanford C. Bernstein reduced their price objective on PDD from $132.00 to $110.00 and set a “market perform” rating on the stock in a research note on Wednesday, May 27th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of PDD in a research note on Thursday, May 28th. Finally, Morgan Stanley set a $129.00 price objective on PDD in a research note on Wednesday, May 27th. Seven analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $128.08.

Read Our Latest Stock Report on PDD

PDD Profile

(Free Report)

PDD (NASDAQ: PDD) is the holding company best known for operating Pinduoduo, a China-based, mobile-first e-commerce platform that emphasizes interactive, social shopping and group-buying mechanics to drive user engagement and low prices. Founded in 2015 by entrepreneur Colin Huang, the business has grown by connecting consumers directly with merchants and manufacturers, with particular emphasis on value-oriented goods and fresh agricultural produce. The company is based in Shanghai and completed a U.S.

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